7. To use a portion of my personal wealth to strengthen my community
8. To support the creation and growth of profitable, competitive black-owned enterprises
9. To maximize my earning power through a commitment to career development, technological literacy and professional excellence
10. To ensure that my wealth is passed on to future generations
I have committed to this unwavering, personal covenant as a means of bolstering myself, my
family and my community. In adopting this resolution, I intend to use all available resources, wisdom and power to gain my share of the American Dream.
THE BLACK WEALTH INITIATIVE
Building wealth is not a sprint. It’s a marathon. black enterprise shows you how to win the race by applying strategies to build, keep and transfer wealth .
cut the preliminaries. It’s time for you to get
off the sidelines and into the race. Building lasting, multigenerational wealth does not come from a sprintlike effort. It requires the focus, discipline, tenacity and conditioning of a marathon runner-a long-distance performer who sets goals, exceeds them and, once one set of objectives has been accomplished, sets his or her sights on new contests to win. Those individuals realize that wealth-building is a lifetime pursuit.
Achieving your financial goals means a rigorous regimen, skills development and coaching. But equally as important is your fuel-passion, the burning desire to make it happen no matter what. You have to want it.
EMBRACE THE BLACK WEALTH INITIATIVE
Welcome to the year 2000. A new era has begun. Are you content to sit in the bleachers while others pass by you? Can you afford to sit back and moan and groan about living from paycheck to paycheck? Isn’t it time for you to start your investment program? Is this the year you finally do something about your financial situation?
This year, black enterprise turns 30. For the past three decades, we have informed you, our readers, about how to launch businesses, succeed in your careers and, yes, manage your money. But we, too, have redirected our mission to a degree. Our goal: to make you wealthy. Simply put, the agenda is to help you achieve that well-deserved slice of the American Dream by paying yourself first, making every dollar count and developing a systematic program of investing that will secure your family for generations to come.
We call our program The Black Wealth Initiative. Publisher Earl G. Graves first framed this concept in the June 1998 issue when he asserted that “our initiative must be to create wealth by building the cornerstones of economic empowerment: education, equity, enterprise and excellence. [It] requires that we be aggressive, even to the point of zealotry.” The core component of this bold, new imperative: mastering your money.
Why is this thrust so important? Because the wealth gap between the rich and everyone else is so vast. The average net worth of the richest 1% of families was $9.7 million in 1997 while the bottom 40% averaged just $3,000. And the disparity between whites and blacks is Grand Canyon-wide. A typical black family possesses on average just 11%